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Black Money Compliance Window

The CBDT has notified the 'Compliance Window' under the Black Money Act, 2015. It is a one-time opportunity for all those who have undeclared income and assets abroad. To assist prospective declarant the CBDT has notified a detailed FAQ but experts who participated in the TIOL TUBE's debate over it find that some of the questions and clarifications given are a bit confusing and also conflicting. Besides, there are several areas where the CBDT needs to come out with fresh clarification and clear some of the doubts like whether interest would be payable; whether non-residents are excluded from this window etc etc. Our four experts are - Mr Sunil Chopra, Former Chief Commissioner of Income Tax; Ms Poorva Prakash, Director, Deloitte Haskins; Mr Rohit Jain, Partner, Vaish Associates, and Mr Sunil Agarwal, Partner, AZB & Partners. The debate was moderated by our Founder Editor, Mr Shailendra Kumar.

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